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NU windfall

psc3239
psc3239 Posts: 19 Forumite
Part of the Furniture Combo Breaker
in Mortgages & endowments
Posted on here about cashing in a NU endowment but was told it was possible to expect a windfall payment soon. Does anyone in the business know anything about this as i may need to cash it in soon.

cheers Paul

Comments

  • barnabee
    barnabee Posts: 1,210 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I thought NU had already paid out a windfall years ago.
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    There's another one due for some members (those in the CGNU fund) not the ones in the NU fund who already got theirs.

    But not for another year or so.
    Trying to keep it simple...;)
  • dunstonh
    dunstonh Posts: 120,028 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    2008 is the current date pencilled in.

    NU endowments in the CGNU side are actually doing quite nicely and like Pru/Scot Am endowments, there is a good chance the majority of these will go to surplus on maturity. So, if an added bonus is likely, it could be well worth holding on. We dont know how much but £1000 average per plan is possible given the size of the orphan fund.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edinvestor is that the old commercial union ..i took my endowment out with commercial union in 93 it's now with norwich union will i get it never heard of it before
  • EdInvestor
    EdInvestor Posts: 15,749 Forumite
    elantan wrote:
    edinvestor is that the old commercial union ..i took my endowment out with commercial union in 93 it's now with norwich union will i get it never heard of it before


    You got it, the people with old CU policies plus old General Accident policies.

    More details

    The latest is there should be a proposal announced very shortly, which is why they are issuing warnings on the phone to people ringing up who want to surrender.
    Trying to keep it simple...;)
  • dfarry
    dfarry Posts: 940 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Yes we got our NU windfall way back in 1997... it did buy us a very nice all inclusive holiday in the Dominican Republic though :)
  • elantan
    elantan Posts: 21,022 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ok not wanting to get too excited here but ...does that mean i will get a pay out? ...why will i get a pay out?....when approx?...will i get it in cash or in my policy?... oh so many questions sorry to be a pain ...i'm just sitting here happy today as i found out that i'm getting compensation for my enowment being mis sold...this may just make my day perfect..thanks for the advice
  • ReportInvestor
    ReportInvestor Posts: 3,646 Forumite
    This is Money

    Aviva has appointed the policyholder representative, Claire Spottiswoode, to negotiate on behalf of policyholders re the orphan assets / inherited estate of their CGNU Life and Commercial Union Life Assurance funds

    ".....'At this stage, no decision has been taken to proceed with a reattribution, which will only take place if there is agreement on a fair outcome for policyholders and shareholders,' Aviva said on Tuesday...."
  • somanyqs
    somanyqs Posts: 1 Newbie
    elantan wrote:
    ok not wanting to get too excited here but ...does that mean i will get a pay out? ...why will i get a pay out?....when approx?...will i get it in cash or in my policy?... oh so many questions sorry to be a pain ...i'm just sitting here happy today as i found out that i'm getting compensation for my enowment being mis sold...this may just make my day perfect..thanks for the advice


    I'm thinking of complaining about mis selling of my Norwich Union endowment. Anyone any tips?
  • dunstonh
    dunstonh Posts: 120,028 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I'm thinking of complaining about mis selling of my Norwich Union endowment. Anyone any tips?

    Start your own thread and dont hijack another? ;)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
This discussion has been closed.
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